The Chase Sapphire Preferred benefits include high rewards on travel, plus thousands of dollars in travel insurance and coverage for damaged or stolen purchases. Chase Sapphire Preferred also offers one of the best initial rewards bonuses on the market. That’s a big reason why its among WalletHub’s choices for the year’s best rewards cards as well as the best credit card deals. The average person would earn more Preferred over the first two years of use than any other Chase credit card, according to WalletHub’s latest Credit Card Rewards Report. And Chase Sapphire Preferred’s secondary benefits are impressive as well.
Here are the Chase Sapphire Preferred’s benefits:
Initial Bonus: Chase Sapphire Preferred offers one of the best bonuses on the market.
Travel Insurance: Chase Sapphire Preferred has the best overall travel insurance among credit cards, according to WalletHub’s editors. Pay for travel with Chase Sapphire Preferred, and you’ll get coverage for delayed, cancelled, or interrupted trips as well as for lost luggage.
Rental Car Insurance: Paying for your vehicle rental with your Chase Sapphire Preferred card automatically gives you coverage for damage or theft. Chase’s policy ranks second among major issuers.
Extended Warranty: If you buy something that has a manufacturer’s warranty, Chase may add a year to your coverage. Chase Sapphire Preferred and Chase Sapphire Reserve® are tied for 17th in this category.
Purchase Protection: You may be eligible for at least a partial refund if certain items purchased with a Chase Sapphire card are damaged or stolen. WalletHub ranks Chase Sapphire Preferred 6th in this category. The Chase Sapphire Reserve card takes 1st place.
International Travel Perks: WalletHub’s editors analyzed major issuers’ perks and policies for international travelers, including travel rewards, foreign transaction fees, emergency assistance and more. Chase Sapphire Preferred and Chase Sapphire Reserve tied for 7th best.
Another Chase Sapphire Preferred benefit is worldwide acceptance. Since Chase Sapphire Preferred is a Visa, you can use it pretty much everywhere in the world credit cards are accepted. Using a Visa or a Mastercard is the best way to convert currency when traveling internationally, too, thanks to low exchange rates that could save you as much as 9%. Plus, Chase is one of the few major credit card companies that will send you a free replacement if you lose your card while out of the country.
In short, Chase Sapphire Preferred is an excellent rewards credit card for people with excellent credit. You can learn more about the offer from WalletHub’s complete Chase Sapphire Preferred Card review.
The best Chase Sapphire Preferred benefit is trip delay reimbursement. The Chase Sapphire Preferred® Card also has purchase protection and extended warranty protection, which are more common perks across Chase credit cards.
Chase Sapphire Preferred Benefits
Trip delay reimbursement
Extended warranty protection
Baggage delay insurance
Travel and emergency assistance services
Trip cancellation/interruption insurance
Extended warranty protection
Car rental insurance
Zero liability fraud protection
Along with these benefits, the Chase Sapphire Preferred has a $95 annual fee and gives rewards on all purchases. As long as you have good credit, the Chase Sapphire Preferred® Card is certainly a card to consider adding to your wallet.
I do a lot of traveling, so my favorite benefits are trip cancellation and interruption insurance, and lost luggage reimbursement. I also like that I get points whenever I pay for food, hotels, and plane tickets.
You need a 700+ credit score for Chase Sapphire Preferred approval. That means applicants generally need at least a “good” credit score to qualify for the Chase Sapphire Preferred® Card, though it’s possible to get approved with a lower score and a higher score may increase the odds.
It’s important to note that while your credit score is an important factor in determining whether or not you will be approved for Chase Sapphire Preferred, there are plenty of other things that will impact the decision, too. Some other important criteria include your income, existing debt load, number of open accounts, recent credit inquiries, employment status, housing status and more. … read full answer
If you don’t think you have what it takes to meet the Chase Sapphire Preferred credit score requirement, the good news is there are plenty of great rewards credit cards for people with good, fair, limited and even bad credit. You can check out WalletHub’s review of 2022’s best rewards cards for each credit level to learn more.
But if you’re confident that your approval odds are high, you can go ahead and get started on your Chase Sapphire Preferred application.
Chase Sapphire Preferred trip cancellation coverage reimburses cardholders in the event of cancelled or interrupted trips due to sickness, severe weather, and other unforeseen circumstances. The insurance covers up to $10,000 per person and a maximum of $20,000 per trip for expenses such as passenger transportation and hotel reservations.
Here’s how the Chase Sapphire Preferred trip cancellation/interruption insurance works:… read full answer
Overview: Chase Sapphire Preferred trip cancellation/interruption insurance covers several unforeseen circumstances that lead to delayed travel arrangements or their cancellation.
Who is covered: Cardholder and immediate family members (not required to travel with the cardholder).
How much is covered: Up to $10,000 per person and a maximum of $20,000 per trip.
What is covered: Unforeseeable circumstances that result in the cancellation or interruption of travel arrangements. Some of these include accidental bodily injury, sickness or death, severe weather, terrorist actions, jury duty or subpoenas that cannot be waived or postponed.
What isn’t covered: Examples include pre-existing conditions, changes in plans or financial circumstances, traveling against the advice of a physician, among other things.
How to Claim: Call the Benefit Administrator at (888) 320-9961 or submit your claim online within 20 days of your trip cancellation or interruption incident. Based on the information given to your benefit administrator, you will be sent the relevant claim forms that you’ll have to complete and return within 90 days (or as soon as reasonably possible) of the incident.
Exclusions and coverage limits might apply, so make sure to check your Chase Sapphire Preferred’s guide to benefits for more details on trip cancellation/interruption insurance.
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